COMMENT: Never mind the cars, buy the carmaker

Would you buy a car from a carmaker that sells only US$109,000 electric sportscars based on a Lotus design, has burned through US$230.5m in cash since its July 2003 start, posted losses every quarter since, and will have a gap in its line between the final roadster and a planned, cheaper, luxury electric sports sedan due in 2010? Probably not, which explains the film star, musician and well-heeled electric car fan base to date. But, would you buy a slice of the carmaker? This week's IPO said a resounding 'yes'.

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